Soros bets against Euro

[Jan Klimkowski]

Zero Hedge names some of the snake oil salemen, the great dot conners, of the current rape of Greece.

Excerpts:

What a difference a year makes. It was just over a year ago that Greece received its first (and certainly not last) $1 trillion + bailout package from the EU, the ECB and the IMF. Just over 12 months later, all those who peddled Greek bonds to the rest of the world (ahem Germany) are now furiously backtracking, having finally realized what we, and everyone else with half a brain said from the beginning: it's over for Greece, for the eurozone in its current configuration, and for the single currency. But fine, let's kick the can down the road for a few more months, which will allow banks, with access to interest-free central bank capital, to literally steal Greece's soon to be privatized assets for pennies on the dollar, and then send the carcass, now picked dry, to the international bankruptcy court. In the meantime, we would like expose all the idiots, who like various anchors on Comcast's bubblevision channel, pitched Greek paper to hapless investors, only to see losses (this is not some speculative asset - this is fixed income) of over 40% in one year, and for some reason continue to have a podium from which to spread their lunacy, greed and outright stupidity.

Gabor Steingart, editor-in-chief, Handelsblatt
"As the largest financial newspaper in the Euro region, Handelsblatt wants to be a voice of reason during these turbulent times. (…) The Greeks are sinners, but they are repentant sinners. The rescue package agreed on by the international community this weekend takes this into account. However, governments alone cannot save Greece. A stabilization can only be achieved if Greece can access capital markets. What is needed is a contribution of major banks. What is also needed is a sign of trust by the citizens of Europe. This is the purpose of our action call "I am buying Greek government bonds". Last Friday, as a sign of responsibility, I have ordered EUR 5,000 Greek government bonds."

Hans Eichel, former German Finance Minister. Picture: Handelsblatt

"For the first time in my life I am buying government bonds Greek government bonds! Because we have to keep the Euro-zone together. The Greek population has to bring great sacrifices, there is no way around that. But we should show our solidarity."

Manfred Lahnstein, former German finance minister. Picture: Handelsblatt

"I am ready to buy a reasonable amount of Greek government bonds. I am doing this because I have confidence in the creditworthiness of Greece and the strength of European and international guarantees. I am doing so in order to also set a small sign against arrogance and thoughtlessness our Greek partners are treated with by parts of politics and media."